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The provided text describes a recent financial market situation involving the yen, the U.S. dollar, and U.S. Treasury yields. Here’s a summary of the key points:

1. Yen’s Relief: The Japanese yen experienced some relief as both the U.S. dollar and U.S. Treasury yields showed slight declines. This relief was attributed to mixed U.S. economic data that led to reduced expectations of the Federal Reserve raising interest rates again in the same year.
2. Dollar Index: The dollar index, which measures the strength of the U.S. dollar against six major currencies, remained steady at a level of 106.78. The dollar had recently gained but gave up some of those gains after disappointing U.S. private payroll data for September.
3. Treasury Yields: Longer-term U.S. Treasury yields had reached 16-year highs but eased off those highs after the release of data. They remained lower in the Asian trading session.
4. ISM Non-Manufacturing PMI: The Institute for Supply Management’s non-manufacturing purchasing managers’ index (PMI) came in at 53.6, which was 0.9 points lower than expected but still above the critical 50 mark, indicating economic expansion.
5. Yen’s Sensitivity to Yields: The Japanese yen tends to be sensitive to changes in U.S. Treasury yields. It traded at around 148.85 yen, down almost 0.2% from previous U.S. levels but off its recent low following a 2% strengthening when it breached the 150-line. There were questions about whether Japanese authorities intervened in the currency market, but Bank of Japan data suggested otherwise.
6. Euro and Sterling: The euro remained relatively stable at $1.0512, staying above the recent low of $1.0448. Analysts in a Reuters poll had a median view that the euro would go as low as $1.04, with only one respondent predicting it would reach parity (equal value) with the U.S. dollar. Sterling traded at $1.2139, rebounding from a fresh low of $1.20385 per dollar seen on Wednesday.

Overall, the market dynamics described in the text indicate a complex interplay of economic data, central bank policies, and investor sentiment influencing currency values, particularly the yen, the U.S. dollar, the euro, and sterling.